ENERGIZING A GREENER FUTURE

MANILA, Philippines – The consortium of Basic Energy Corp. and Phinma Energy Corp.

is holding tests to determine resource at the Mabini geothermal field in Batangas after completing drilling works at the project. The consortium has complied with its work commitment with the Department of Energy (DOE) for completing drilling works for Geothermal Service Contract No.

8, reaching a target depth of 1,679 meters, Basic Energy said. The firm said preparations for setting the perforated liners are now underway.

“Testing of the well aimed at obtaining temperature, pressure, and permeability data, to be performed by its contractor, Scientific Drilling International (SDI), shall commence shortly,” it said. Basic Energy senior vice president and general manager Anthony Cuaycong said the completion test takes up to three days and establishes baselines that will help Basic Energy assess the resource.

“After the completion test, there is a heat-up period of up to one and a half months, during which time surveys will be conducted to check well response after specific ‘rest’ periods,” he said. element-invisibleBusiness ( Article MRec ), pagematch: 1, sectionmatch: 1 The Mabini Geothermal Service Contract No.

8, located in San Teodoro, Mabini, Batangas, covers 3,841 hectares. Based on a pre-feasibility study, the area is projected to yield a power capacity between 20 megawatts and 60 MW Basic Energy has a 75 percent stake in the project and is the operator of the service contract.

Meanwhile, Phinma Energy has an equity participation of 25 percent. Apart from the Mabini project, Basic Energy has four other geothermal service contracts, namely the East Mankayan Geothermal Prospect in Ifugao, Mt Mariveles Geothermal Project in Bataan, Mt Iriga Geothermal Project in Albay and West Bulusan Geothermal Prospect in Sorsogon.

Source: http://www.4-traders.com/BASIC-ENERGY-CORP-6090099/news/Basic-Energy-Phinma-hold-test-for-Mabini-geothermal-project-23853670/